The "stagflation" of the 1970s ________ Keynesian macroeconomics until the Keynesians started to build the consequences of changing inflationary expectations and ________ shocks into their models.
A) reinforced the dominance,supply
B) reinforced the dominance,demand
C) deepened the eclipse,supply
D) deepened the eclipse,demand
Correct Answer:
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Q1: In the late 1960s,the Friedman-Phelps "natural rate
Q3: The U.S.economy in the 1960s was dominated
Q4: The Keynesian revolution was based on the
Q5: The tax cuts and entitlement program expansions
Q6: Most Keynesian macroeconomists today _ the natural
Q7: An important failure of the "new economics"
Q8: The work of Robert Lucas and Thomas
Q9: The Great Depression of the 1930s opened
Q10: The evolution of macroeconomic theory
A)usually precedes and
Q11: The great failure of activist fiscal policy
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